Pa. Rep. Proposes Natural Gas Tax To Fund Transportation

Law360, Philadelphia (May 16, 2013, 5:27 PM EDT) -- A Pennsylvania state lawmaker unveiled a package of bills Wednesday that would fund transportation projects and infrastructure across the commonwealth by imposing a severance tax on natural gas extracted from the Marcellus Shale and closing a loophole allowing companies to shift certain taxable assets out of state.

Under bills introduced by Rep. Scott Conklin, D-Centre, drilling companies would begin to pay a 5-cent tax on natural gas extracted at wellheads that he said would raise about $111 million within the first year. Combined with a bill...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.